Newsquawk.com Week Ahead 26th February – 1st March
Mon: US New Home Sales (Jan), Dallas Fed
(Feb), Japanese CPI (Jan), UK Nationwide (Feb)
Tue: US Democratic Primary – Michigan; German GfK (Mar), US Durable Goods (Jan), Consumer Confidence (Feb), Richmond Fed (Feb)
Wed: RBNZ Policy Announcement, Australian CPI (Jan), Swedish PPI (Jan), EZ Consumer Confidence Final (Feb), US GDP 2nd/PCE Prices Prelim. (Q4), Japanese Retail Sales (Jan)
Thu: Australian Retail Sales (Jan), US PCE (Jan), Canadian GDP (Q4)
Fri: Chinese NBS PMIs (Feb), EZ CPI (Feb), US ISM Manufacturing PMI (Feb).
USDJPY Weekly Outlook
Supports at 149.800 and 148.650
Resistance 152.000
There is not much to say about this pair, except that Pattern wise it is destined to try 152.000 area.
Problem comes from the fact that we have already double top in place, and if rejected for the third time, it will be not only technically visible, but would mean that BOJ decided to put Money where their Mouth is.
We can always see sharp drops in JPY , followed by even sharper ascent . But any possible drop below 145.000 and consequently 143.300 would put the whole Up trend in question.
USDJPY 15 minute chart
Similar to others, USDJOY is ending the week with a whimper but getting a reprieve from the dip in US bond yields
Wise rRngw `149.53-150.89
I wouldn’t be surprised to learn the BoJ has been covertly intervening as it has been rumored for years to do so via surrogates.
Whatever the case, 150 remains the ultimate bias-setting level
bobby 1:41 / tol game these frothy puppies is replete with risk
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to mitigate risk to your wallet u d have to be a “whale” with tons of margin (haha) or collusionability with your say 3 selections out of the “7 magnificant”s or … a very intimate insight into money in or out flows
otherwise it is good luck peasant
NVIDIA – Whole planet talks about it….it is Viral…it is Hysterical
Even my wife asking about it ( and she couldn’t give a **** about it ) …my younger daughter asks about it ( at least she is just worried if the price for her next generation graphic card will go up )
Till yesterday it was Gold – half a planet bought it on the top….
Now the other half will buy NVIDIA stocks …on the top
Me….I don’t give a flying ****….EUR goes up, EUR goes down…that makes my day…
US Dollar Index Weekly Chart
Barring a burst higher, the US Dollar Index looks set for the first down week for the year (and in 8 weeks) although trading well off yesterday’s low.
By itself, this does not mean the dollar is about to reverse but does suggest the dollar has lost some steam.
in any case, those who follow me know I am always on the lookout for patterns and here is one that appears will be broken.
hear ye hear ye peasant
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Bloomberg.com
Fed’s Harker Cautions Against Cutting Interest Rates Too Soon
Federal Reserve Bank of Philadelphia President Patrick Harker said that it will likely be appropriate to cut interest rates this year,…
Federal Reserve Bank of Philadelphia
Economic Outlook: We Are in the Final Mile of the Marathon
Good afternoon! It is a pleasure to be back with you once again, and I thank today’s organizers and sponsors for making it all possible.
MarketWatch
Fed’s Harker: Don’t look for any interest-rate cuts ‘right now and right away’
The Federal Reserve is getting close to cutting interest rates but a move in the near-term is unlikely, said Philadelphia Fed President…
AUDUSD Breaks Free: Uptrend Resumption or False Dawn?
AUDUSD has clawed its way back from recent lows, breaking above the confines of the falling price channel on the 4-hour chart. This bullish breakout raises questions: Has the downtrend truly ended, or is this just a temporary reprieve?
Uptrend Resumed: Channel Breakout as Confirmation?
Channel Breach: The break above the falling channel, established from the 0.6870 high, signifies a potential shift in momentum. This suggests a possible end to the downtrend and the start of a new uptrend from the recent low of 0.6442.
Potential for Continued Rally:
Resistance Levels: If the uptrend continues, the next target for AUDUSD could be the 0.6624 resistance level. Surpassing this hurdle would open the door for further gains towards 0.6700, solidifying the bullish momentum.
Support Levels to Watch for Pullbacks:
Initial Support: The initial support to watch is at 0.6532. A breakdown below this level could indicate a loss of momentum and a potential pullback towards the 0.6500 area.
Key Support: A further breach below 0.6500 could trigger a decline towards the previous low of 0.6442, potentially signaling a resumption of the downtrend.
Overall Sentiment:
The technical picture offers a mixed outlook for AUDUSD. The breakout from the channel suggests a potential trend reversal, but confirmation will come from holding above the 0.6532 support and pushing towards the 0.6624 resistance. Monitoring the price action around these key levels will be crucial in determining the pair’s next move.
Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.
Monedge tah would be FED’s no. 2
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US Fed official warns of inflationary risk of over-consumption
Washington (AFP) – A senior Federal Reserve official said Thursday that the US central bank will likely start cutting interest rates “at some point this year,” but warned against the potentially inflationary effect of over-consumption.
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